Dutch insurer ASR’s real estate arm has set up its first infrastructure fund, a renewable energy vehicle mainly aimed at solar and wind farms in the Netherlands.
With anchor investment from ASR Levensverzekering, the insurer’s life insurance business, ASR Real Estate said it has launched its €400m ASR Dutch Green Energy Fund I and expects to double the 20-year-term fund’s size to €800m.
ASR Dutch Green Energy Fund I is ASR Real Estate’s sixth sector fund and the manager’s debut infrastructure sector fund which, it said, has so far invested in a portfolio of four wind farms and a solar farm.
ASR Real Estate said that in addition to the fund’s main investment focus on wind and solar, it will also consider battery storage projects.
Dick Gort, CEO of ASR Real Estate, said: “With this fund we want to further contribute to the energy transition together with investors. By establishing the ASR Dutch Green Energy Fund I, we further expand our real estate asset management platform.
“With this, we are fulfilling our mission to create perpetual value for our investors and society at large.”
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